DAVAO CITY: Davao Region’s inflation rate for the bottom 30 percent income households increased to 5.9 percent in July from 4.8 percent in June, the regional office of the Philippine Statistics Authority (PSA-11) reported Friday.
In its bulletin, PSA-11 said the region’s inflation was lower in July last year at 4.3 percent.
PSA-11 said the uptrend was due to the faster annual growth in the index of housing, water, electricity, gas, and other fuels, which was -5.0 percent from -10.2 percent in the previous month.
‘Additionally, the faster price movement in the commodity groups of transport at 3.8 percent from 3.1 percent, and restaurants and accommodation services at 6.6 percent from 6.0 percent contributed to the inflation’s overall upward trend,’ PSA-11 said.
Meanwhile, higher annual increments were noted in the health indices at 2.7 percent from 2.4 percent; recreation, sport, and culture (9.6 percent from 8.4 percent); and education services (6.2 percent from 3.9 percent) compared to the previous month
.
Meanwhile, commodity groups that posted slower price movements in July than in June include clothing and footwear (5.0 percent from 5.1 percent); furnishings, household equipment, and routine household maintenance (3.5 percent from 3.7 percent); and personal care, and miscellaneous goods and services (3.7 percent from 3.9 percent).
‘The food inflation for the bottom 30 percent income households at the regional level accelerated to 10.0 percent in July 2024 from 9.8 percent in the previous month. In July 2023, it was lower at 5.4 percent,’ it said.
Main contributors to the overall inflation of food in the region for July were fish and other seafood, at 2.8 percent from 0.7 percent, meat and other parts of slaughtered land animals (1.0 percent from -0.8 percent), and vegetables, tubers, plantains, cooking bananas, and pulses (13.1 percent from 10.5 percent).
Commodity groups that recorded a higher year-on-year growth include milk, other dairy products, and eggs (0.9 percent from -0.2 percent); oils and fa
ts (-1.6 percent from -2.3 percent); and ready-made food and other food products N.E.C. (10.7 percent from 10.4 percent).
Source: Philippines News Agency